India must rein in imports, push exports: Nitin Gadkari

New Delhi: Road transport and highways minister Nitin Gadkari Wednesday said India will have to rein in imports while stepping up exports if it aims to become the world's third-largest economy.

"If the country wants to become the third-largest economy in the world, then it will have to reduce imports and increase exports," Gadkari said at the CSIR's Technology Transfer Ceremony. The minister also highlighted how agricultural waste can be converted into a valuable national resource and help in reducing the country's crude imports. "Utilising agro-waste reduces pollution caused by crop burning and strengthens the circular economy. With 15% blending, India can save nearly ₹4,500 crore in foreign exchange and substantially reduce its dependence on imported crude oil," Gadkari said.